Retailers in cutthroat race for market dominance

Government commitments to promoting the digital economy and supporting infrastructure development are laying a solid foundation for retail innovation in Vietnam.

These initiatives give foreign companies a confidence to invest and develop sustainably in the country.

Since the end of 2024, many retailers from Japan, Thailand, South Korea, and Singapore have successfully expanded their presence in the Vietnamese market.

AEON Vietnam Co., Ltd. recently held a groundbreaking ceremony for a project in Long An province, marking its eighth shopping center in Vietnam and the first AEON shopping center in the Mekong Delta region. This new center is scheduled to open in late 2025.

Meanwhile, Central Retail of Thailand has committed to investing an additional $1.45 billion in Vietnam, with plans to double the number of its stores from 300 to 600 by 2027.

Another major Thai retailer, MM Mega Market Vietnam, recently opened its fifth supply depot in Sa Pa (Lao Cai).

However, domestic enterprises have responded decisively. Saigon Co.op and Satra continue to stand firm and grow, while the WinCommerce and Bach Hoa Xanh chains are rapidly expanding their store networks. WinCommerce aims to reach 10,000 stores by 2030, and Bach Hoa Xanh plans to open 100 more stores next year, including those in the central and northern regions.

According to the Ministry of Industry and Trade, Vietnam's retail industry is experiencing a period of strong and potential development. The country currently boasts 1,080 supermarkets, 240 shopping centers, 8,500 traditional markets, thousands of convenience stores, and approximately 2.2 million individual business households.

Data from the Ministry of Planning and Investment shows that in 2024, the wholesale-retail sector ranked among the top four sectors attracting foreign investors, with a total registered capital of nearly $1.41 billion.